While the American Bankers Association supports the responsible management of federal financial aid, any changes to how that aid is distributed should preserve the operational effectiveness of the Financial Institutions Community Development Fund for financial institutions, the ABA said in letter to the Office of Management and Budget. OMB seeks to revise guidelines for how […]
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Mortgage rates are higher today as the war in Iran heats up again. The average interest rate on a 30-year fixed-rate mortgage rose to 6.53% per year, according to rates provided to NerdWallet by Zillow. That’s seven basis points more than yesterday and 11 basis points more than a week ago. (See our table below […]
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Proposed legislation supported by the American Bankers Association would require the Small Business Administration to provide and publish more details about the risks of the 7(a) lending program. The SBA is currently required to conduct an annual risk analysis of its flagship small business loan program and report the results to Congress. 7(a) Program Risk […]
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When the company you work for goes public, your capital goes from an intangible asset to one that has a publicly traded market price. But even though your net worth fluctuates in real time, you can’t sell immediately. After an initial public offering, employees, executives, founders, and early investors are typically tied into a lock-up […]
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The House of Representatives today voted to pass bipartisan legislation to implement the phase-out of pennies by providing a framework for rounding cash when exact change cannot be provided. Last year, President Trump ordered the Treasury Department to stop producing pennies, noting that each penny costs more than it’s worth. Law on Common Cents (HR […]
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